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XMPT
VanEck CEF Muni Income ETF

Fund Description

The VanEck CEF Muni Income ETF (XMPT®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of S-Network Municipal Bond Closed-End Fund Index (CEFMXTR), which is intended to track the overall performance of the U.S.-listed closed-end funds that invest in U.S. dollar denominated tax-exempt market.

 
 

  • Fund Ticker

    XMPT

  • Exchange

    Cboe

  • Inception Date

    07/12/2011

  • ETF Structure

    Physical

  • Administrator

    Van Eck Associates

  • Index Ticker

    CEFMXTR

  • Index Rebalancing

    Quarterly

  as of 03/23/23

  • 30-Day SEC Yield1

    4.98%

  • Total Net Assets

    $186.7M

  • Number of Holdings

    56

  • Options

    No

  • Gross Expense Ratio2

    1.81%

  • Net Expense Ratio/TER2

    1.81%

  • Distribution Frequency

    Monthly

  • Next Distribution Date

    03/31/2023
Schedule a Call
How to Buy

Key Documents and Links

XMPT Fact Sheet
Summary Prospectus
Management Team

Investment Professionals

  • Portfolio Manager and Head of Equity ETFs
  • Oversees the Equity ETF Investment Management Team including development and management of index replication and optimization strategies
  • Joined VanEck in 2005
  • CFA charterholder; member of the CFA Society New York
  • BA, Mathematics and Economics, New York University
  • Associate Portfolio Manager for Fixed Income ETFs
  • Joined VanEck in 2013
  • Prior to his current role, held a portfolio administration position for the firm’s alternative investment funds
  • MS, Finance, University of Rochester
  • BS, Information Sciences and Technology, Pennsylvania State University
  • Deputy Portfolio Manager for non-taxable Fixed Income ETFs
  • Oversees quantitative analysis and optimization processes for the fixed income ETFs
  • Joined VanEck in 2016
  • Prior to her current positions, served as quantitative analyst
  • CFA charter holder; member of CFA Society New York
  • MS, Financial Engineering, Baruch College; BBA, Finance, Baruch College
  • Senior Trader, Portfolio Analyst for Fixed Income ETFs
  • Joined VanEck in 2017
  • Previously, Trader at Beck, Mack & Oliver LLC and monitored markets and executed equity and fixed income trades and Fixed Income Operations at Gleacher & Company Securities, Inc.
  • MBA, Finance, Montclair State University
  • BS, concentration in Accounting and Finance, minor in Computer Science, University of Vermont

Fund Highlights

  • Potential High Level of Tax-Exempt Income
    A portfolio of municipal CEFs that may produce yields higher than most other fixed income investments

  • Diversification by Asset, Strategy and Manager
    Reduced single fund risk with a portfolio of CEFs managed by leading active fixed income managers

  • The Discount Advantage
    Index assigns a greater weight to CEFs trading at discounts, potentially enhancing yield and the opportunity for capital appreciation

Yields

as of 03/23/23

  • 30-Day SEC Yield1

    4.98%

  • Distribution Yield1

    4.07%

  • 12-Month Yield1

    4.99%

  • Taxable Equivalent 30-Day SEC Yields1a

  • 12% Federal Tax Rate

    5.66%

  • 22% Federal Tax Rate

    6.38%

  • 24% Federal Tax Rate

    6.55%

  • 32% Federal Tax Rate

    7.32%

  • 35% Federal Tax Rate

    7.66%

  • 37% Federal Tax Rate

    7.90%
 1/1a See Important Disclosure for definitions.

Fees and Expenses2

  • Management Fee

    0.40%

  • Other Expenses

    --

  • Acquired Fund Fees and Expenses

    1.41%

  • Gross Expense Ratio

    1.81%

  • Fee Waivers and
    Expense Reimbursement

    --

  • Net Expense Ratio/TER2

    1.81%

2 Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. Notwithstanding the foregoing, the Adviser has agreed to pay the offering costs until at least September 1, 2023.

Trading Information

  • Fund Ticker

    XMPT

  • Index Total Return Ticker

    CEFMXTR

  • NAV

    XMPTNV

  • Intraday NAV (IIV)5

    XMPTIV

  • Shares Outstanding

    8,875,000

  • Estimated Cash

    XMPTEU

  • Total Cash

    XMPTTC

  • CUSIP

    92189F460

  • ISIN

    US92189F4607
5See IIV Details. Source: Bloomberg

Fundamentals4 as of 03/23/23

  • Yield to Worst

    7.08%

  • Yield to Maturity

    7.64%

  • Effective Duration (yrs)

    12.11

  • Duration to Worst (yrs)

    13.03

  • Modified Duration (yrs)

    16.44

  • Spread Duration (yrs)

    12.30

  • Years to Maturity

    19.35

  • Coupon

    4.61%
 4See Important Disclosure for definitions.
 

Premium/Discount: CEFs Held by XMPT
as of 03/23/23

Daily Download

This chart does not represent XMPT's premium/discount. It represents the weighted average premium/discount of the underlying closed-end funds (CEFs) held by XMPT. There are many factors that influence the up-down movement of a closed-end fund's share price, such as the fund's yield, performance, and investor demand.

Prices as of 03/23/23

NAV/
Market
Price 		Volume
30-Day Avg./
Last Trading Day 		Daily Change
NAV/
Last Price 		YTD Change NAV/
Last Price 		Premium/
Discount 		30-Day
Median
Bid Ask
Spread 		NAV
Chart
XMPT $21.04
$21.10 		60,469
39,607 		$-0.11 / -0.50%
$-0.01 / -0.05% 		-1.39%
-1.09% 		$0.06
0.31% 		0.14%

Premium/Discount History as of 03/23/23

Calendar Year 2021 1Q 2022 2Q 2022 3Q 2022 4Q 2022 Premium/Discount Charts NAV & Prem/Discount History
XMPT Days closed at a premium 163 26 17 33 34
Days closed at NAV 15 2 3 8 7
Days closed at a discount 74 34 42 23 22

Performance History: Average Annual Total Returns* (%)

View All ETFs View All Indices
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
07/12/11
XMPT (NAV) -5.28 -2.86 -0.57 -16.48 -4.75 0.87 1.79 3.55
XMPT (Share Price) -5.43 -2.83 -0.56 -16.21 -4.74 0.89 1.81 3.54
CEFMXTR (Index) -5.25 -2.77 -0.50 -16.13 -4.35 1.28 2.16 3.93
Performance Differential (NAV - Index) -0.03 -0.09 -0.07 -0.35 -0.40 -0.41 -0.37 -0.38
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
07/12/11
XMPT (NAV) -2.31 5.94 -23.76 -23.76 -3.94 0.07 2.07 3.65
XMPT (Share Price) -2.28 5.78 -24.02 -24.02 -3.97 0.09 2.12 3.65
CEFMXTR (Index) -2.28 6.06 -23.46 -23.46 -3.64 0.39 2.40 4.03
Performance Differential (NAV - Index) -0.03 -0.12 -0.30 -0.30 -0.30 -0.32 -0.33 -0.38

*Returns less than one year are not annualized.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

The "Net Asset Value" (NAV) of a Fund is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF 's intraday trading value. Investors should not expect to buy or sell shares at NAV.

Top 10 Holdings (%) as of 02/28/23

Daily Holdings
Total Holdings: 56
Holding Name
Ticker
Shares
 Market Value
(US$) 		% of Net
Assets
Nuveen Quality Municipal Income Fund
NAD US
1,240,095
13,963,470 7.86
Nuveen AMT-Free Municipal Credit Income
NVG US
1,184,048
13,924,404 7.84
Nuveen AMT-Free Quality Municipal Incom
NEA US
1,279,054
13,762,621 7.74
Nuveen Municipal Credit Income Fund
NZF US
975,991
11,448,374 6.44
Nuveen Municipal Value Fund Inc
NUV US
946,960
8,437,414 4.75
Blackrock Municipal 2030 Target Term Tr
BTT US
331,692
7,048,455 3.97
Blackrock Municipal Income Fund Inc
MUI US
483,505
5,463,607 3.07
Blackrock Muniyield Quality Fund Inc
MQY US
429,237
5,017,781 2.82
Blackrock Muniyield Quality Fund Iii In
MYI US
405,831
4,427,616 2.49
Eaton Vance Municipal Bond Fund
EIM US
424,974
4,236,991 2.38
Top 10 Total (%) 49.37
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These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Currency Exposure (%) as of 02/28/23

U.S. Dollar 99.90
Other/Cash 0.10

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